It's already taken care of.
It is first recorded on Schedule 1 as Unemployment Compensation on line 7. Then on line 8 there is a UCE (Unemployment Compensation Exclusion) of -$10,200.
This is then carried over and posted to your tax return (1040) on line 8.
So, it’s already included.
Unemployment Stimulus: Am I Eligible for the New Unemployment Income Relief?
The IRS announced that people who are eligible for the unemployment tax deduction and have already filed their 2020 taxes do not need to file an amended return.
If you owe under $1,000 the unemployment adjustment should cover that expense. However, if you owe more than that I suggest you do make a payment.
If you've already filed your return, the IRS will recalculate your taxes, adjust your account accordingly, and send any refund amount directly to you. States are following a similar process.
The IRS strongly urges taxpayers not to file amended returns related to the new legislative provisions or take other unnecessary steps at this time.
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